Australia
Wattle Point Holdings has secured a A$166 million 3.25-year facility on a club basis through mandated lead arrangers Commonwealth Bank of Australia and Suncorp Group.
The transaction is split into a A$47 million and a A$118 million term loans.
The first tranche was solely contributed by Commonwealth Bank of Australia while Suncorp Group was the sole lender in the A$118 million portion.
Proceeds are to refinance existing indebtedness.
China
ASE Assembly & Test (Shanghai), ASE (Shanghai), ASE (Kunshan) and ASE (Weihai) have obtained a $210 million three-year term loan and revolver through joint bookrunners and mandated lead arrangers ANZ, HSBC, Land Bank of Taiwan, Mega International Commercial Bank and SMBC.
Final allocations saw ANZ lend $48 million while HSBC and SMBC gave $36 million each. Land Bank of Taiwan and Mega International Commercial Bank provided $24 million each. Mandated lead arrangers Bank of America joined in with $18 million while Hua Nan Commercial Bank and Taiwan Cooperative Bank ended up with $12 million each.
Proceeds are for refinancing, working capital and capital expenditure purposes.
India
Beta Wind Farm has secured two project financings totalling $235 million-equivalent through sole bookrunner and mandated lead arranger Axis Bank.
The first financing consists of a Rs5.5 billion 10-year term loan and a $30 million seven-year portion while the second facility is a Rs5.4 billion 10-year term loan. The rupee portion will be repaid in 40 equal quarterly instalments while the US$ tranche will be repaid in 28 equal quarterly instalments.
Syndication saw Andhra Bank, Bank of India, Canara Bank, Dena Bank, Karnataka Bank and Tamilnad Mercantile Bank join in the first financing as participants while Andhra Bank, Canara Bank, Dena Bank, Indian Overseas Bank, Karnataka Bank, Tamilnad Mercantile Bank and Vijaya Bank participated at lower tiers in the second facility.
Proceeds are the development of several wind farms in India.
South Korea
Woori Bank successfully completed a $175 million-equivalent dual-tranche facility on a club basis through a consortium of seven mandated lead arrangers.
The 367-day term loan is split in to a €75 million tranche and an $80 million portion which is priced at 90bp over Euribor and 95bp over Libor respectively.
Syndication saw Commerzbank, LBBW (Seoul), Standard Chartered and UniCredit Bank Austria commit to the Euro tranche while ANZ (Hong Kong), Citibank Korea and Wells Fargo participated in the US$ portion.
Proceeds are to refinance an existing €170 million facility signed in November 2010 and for working capital purposes.
Taiwan
Candmark Enterprise has obtained a NT$1 billion five-year facility last week through bookrunners and mandated lead arrangers First Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank.
The transaction is split into a NT$800 million term loan and a NT$200 million multi-currency revolver. The first tranche is priced at 120bp over the secondary CP rate while the second tranche is priced at 150bp over same benchmark if drawn in NT dollars and priced at 150bp over Libor or yen Libor if drawn in US dollars or yen.
Syndication saw Bank of Kaohsiung, Chinatrust Commercial Bank, Hua Nan Commercial Bank, Taiwan Business Bank, Taichung Commercial Bank and Taipei Fubon Commercial Bank join in as participants.
Proceeds are for capital expenditure and working capital purposes.
Fina Finance & Trading has completed a NT$1.5 billion three-year revolver through sole bookrunner and mandated lead arranger Land Bank of Taiwan.
The facility is priced at 95bp over the secondary CP rate with a commitment fee of 15bp.
Final allocation saw the lead commit NT$600 million while managers Chang Hwa Commercial Bank, Industrial Bank of Taiwan, Taichung Commercial Bank and Taiwan Cooperative Bank lent NT$200 million each. Jih Sun International Bank joined in with NT$100 million as a participant.
Proceeds are for working capital purposes.
Gallant Precision Machining sealed a NT$1 billion three-year six-month facility on Monday (January 16) through three bookrunners and mandated lead arrangers Chinatrust Commercial Bank, Taishin International Bank and Taiwan Business Bank.
The upsized facility, which is split into a NT$330 million term loan and a NT$670 million revolver, offers a margin of 70bp and 110bp over secondary CP rate respectively and has a commitment fee of 15bp.
Final allocations saw the leads take NT$280 million each while participants Agricultural Bank of Taiwan and Chang Hwa Commercial Bank gave NT$80 million each.
Proceeds are for refinancing and working capital purposes.
Lofty Success Group has closed a $16 million club deal through mandated lead arrangers Bank of Taiwan, Chinatrust Commercial Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank.
The three-and-a-half-year term loan offers a margin of 150bp over Sibor and will be repaid in 12 equal quarterly instalments.
Syndication saw the leads contribute equally to the financing.
Proceeds are for refinancing and working capital purposes.
New Best Wire Industrial successfully signed a NT$1.8 billion dual-tranche facility in early January through a consortium of six bookrunners and mandated lead arrangers.
The five-year deal is split equally into a term loan and a revolver, which are priced at 70bp over the secondary CP rate with an after-tax floor of 1.5% and a commitment fee of 20bp.
Syndication saw bookrunners and mandated lead arrangers Chang Hwa Commercial Bank, Chinatrust Commercial Bank, E.Sun Commercial Bank, Hua Nan Commercial Bank and Mega International Commercial Bank commit NT$215 million each while First Commercial Bank lent NT$200 million. Co-arrangers Land Bank of Taiwan, Ta Chong Bank and Taipei Fubon Commercial Bank gave $150 million each while participant Bank of Taiwan ended up with NT$75 million.
Proceeds are for refinancing and working capital purposes.
Pan Jit Asia International and Aide Energy (Cayman) Holding concluded a $65 million five-year revolver on Tuesday (January 17) through joint bookrunners and mandated lead arrangers First Commercial Bank and Land Bank of Taiwan.
The deal consists of two identical $65 million tranches, which is priced at 115bp and 120bp over three-month or six-month Libor. The outstanding amount cannot exceed $65 million.
Final allocations saw the leads pledge $18 million each and participants Taiwan Business Bank and Taiwan Cooperative Bank provide $12 million each. Mega International Commercial Bank ended up with $5 million.
Proceeds are for refinancing and working capital purposes.
Te Chang Construction has obtained a NT$3.5 billion five-year multi-tranche facility through sole bookrunner and mandated lead arranger Land Bank of Taiwan.
The facility consists of a NT$1.2 billion, a NT$2 billion term loan and a NT$253 million guarantee facility. The term loan tranches offer a margin of 123bp over one-year average savings rate of banks and the guarantee facility is priced at 4bp per year.
Syndication saw Agricultural Bank of Taiwan join in as an arranger while Bank of East Asia, Bank of Kaohsiung, Bank SinoPac, Chang Hwa Commercial Bank, Industrial Bank of Taiwan, Taichung Commercial Bank, Taipei Fubon Commercial Bank and Yuanta Commercial Bank came in as participants.
Proceeds are for general corporate and working capital purposes.
Yieh Phui (HK) Holding has concluded a $40 million three-year revolver through sole bookrunner Taiwan Cooperative Bank.
The guaranteed facility is priced at 125bp over Libor or 75bp over TAIFX3, whichever is higher.
Final allocations saw the lead, along with mandated lead arrangers Land Bank of Taiwan and Mega International Commercial Bank contribute $10 million each while participants Hua Nan Commercial Bank and Taichung Commercial Bank joined in with $5 million each.
Proceeds are for working capital purposes.
